This consultation paper (CP) contains proposals for changes to our mortgage advice and selling standards to address 3 harms identified through the Mortgages Market Study.
The proposals in this CP are one part of a package of remedies arising from the Mortgages Market Study. These remedies aim to work together to support our objectives to ensure consumers have the information and support they need to make informed choices about how they buy a mortgage, and help ensure they get good value from advice.
We think they will help address the harms identified above by making it easier for firms to present options to consumers without giving regulated advice, enabling firms to make their execution-only sales channels easier to use and by requiring advisers to take account of price when choosing between suitable mortgages.
This CP should be read by:
Please send us your comments by 7 July 2019.
You can also:
We will consider your feedback and intend to publish our rules in a Policy Statement late in 2019.